GBP/USD Technical Analysis for July 1, 2011

The GBP/USD pair had a wild day on Thursday. The pair has been under 1.60 and over 1.61 during the last 24 hours, and the pair looks ready to move. However, we don’t like buying as the pair is so weak in general. The breaking of 1.59 is our long-term sell signal. Until then, we are waiting to see what happens.

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